Mana nears completion of Flagler assemblage

Sale brings Mana's total to 31 properties and 780K sf in downtown Miami

Oct.October 05, 2015 11:15 AM

Moishe Mana, who has been assembling properties in downtown Miami for the past year and a half, purchased three more parcels on Flagler Street for a combined $8.19 million, The Real Deal has learned.

Mana’s Jersey Art Holdings acquired 129 East Flagler Street, an 8,000-square-foot building, for $3.6 million, Mika Mattingly of Sterling Equity Realty’s MikaMiami team, told TRD. He also picked up a 6,000-square-foot lot at 116 West Flagler for $3.6 million and a vacant 5,900-square-foot lot at 208 West Flagler for $991,500.

WLH Hunter LLC sold the property at 129 East Flagler, Miami-Dade property records show. It was built in 1925 and last sold for an undisclosed amount. Previous tenants include Kentucky Fried Chicken.

116 W Flagler St LLC and Miami Flagler Parking Lots were also sellers. The property at 116 West Flagler last traded for $1.125 in 2012. The parking lot, at 208 West Flagler, last sold for $650,000 in 2013, records show. Aventura-based Miami Flagler Parking Lots was the seller.

In July 2014, Miami-Dade County commissioners unanimously approved funding nearly half of a $13 million improvement plan for Flagler Street. At the time, the plan called for expanding and straightening sidewalks, along with adding trees, benches and bicycle racks. The sidewalks will also be designed to resemble railroad tracks, a reference to Henry Flagler. It will break ground this month, Mattingly said.

The sale brings Mana’s total to 31 properties and 780,000 square feet in downtown Miami. “Mana intends to infuse Miami’s urban core with arts, culture, and an elegance unknown since the ’20s real estate boom,” she said.

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